Hoylecohen LLC bought a new position in Northrop Grumman Co. (NYSE:NOC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,556 shares of the aerospace company’s stock, valued at approximately $5,388,000.
A number of other institutional investors also recently added to or reduced their stakes in NOC. Raymond James Financial Services Advisors Inc. boosted its stake in Northrop Grumman by 21.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 48,099 shares of the aerospace company’s stock valued at $13,840,000 after buying an additional 8,629 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Northrop Grumman by 21.4% in the 3rd quarter. Victory Capital Management Inc. now owns 15,822 shares of the aerospace company’s stock valued at $4,552,000 after purchasing an additional 2,793 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Northrop Grumman by 186.8% in the 3rd quarter. American Century Companies Inc. now owns 26,570 shares of the aerospace company’s stock valued at $7,645,000 after purchasing an additional 17,306 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter valued at approximately $2,639,000. Finally, FDx Advisors Inc. lifted its stake in shares of Northrop Grumman by 14.3% during the 3rd quarter. FDx Advisors Inc. now owns 2,916 shares of the aerospace company’s stock worth $839,000 after acquiring an additional 364 shares during the last quarter. 80.71% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Denise M. Peppard sold 2,539 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $335.12, for a total transaction of $850,869.68. Following the completion of the sale, the vice president now directly owns 38,613 shares of the company’s stock, valued at approximately $12,939,988.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Janis G. Pamiljans sold 955 shares of Northrop Grumman stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $338.85, for a total transaction of $323,601.75. Following the transaction, the vice president now owns 10,466 shares in the company, valued at approximately $3,546,404.10. The disclosure for this sale can be found here. Insiders sold a total of 9,299 shares of company stock valued at $3,220,228 over the last ninety days. 0.70% of the stock is owned by corporate insiders.
Shares of NOC stock opened at $351.72 on Friday. The stock has a market cap of $62,676.76, a price-to-earnings ratio of 27.11, a PEG ratio of 2.58 and a beta of 0.78. Northrop Grumman Co. has a 1 year low of $237.39 and a 1 year high of $360.88. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.24 and a current ratio of 2.35.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, beating the Zacks’ consensus estimate of $2.75 by $0.07. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The firm had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter last year, the firm earned $2.96 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. analysts predict that Northrop Grumman Co. will post 15.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Monday, March 5th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.25%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, March 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 33.13%.
Several research firms have commented on NOC. Goldman Sachs downgraded Northrop Grumman from a “conviction-buy” rating to a “buy” rating and set a $395.00 price objective on the stock. in a report on Tuesday, February 20th. Citigroup restated a “buy” rating and set a $405.00 target price on shares of Northrop Grumman in a research note on Monday, March 12th. Morgan Stanley restated an “equal weight” rating and set a $365.00 target price (up from $336.00) on shares of Northrop Grumman in a research note on Friday, February 23rd. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $386.00 price target for the company in a research report on Thursday, March 29th. Finally, Barclays assumed coverage on Northrop Grumman in a report on Thursday, March 29th. They issued an “overweight” rating and a $400.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Northrop Grumman currently has an average rating of “Buy” and a consensus target price of $364.00.
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About Northrop Grumman
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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